The Georgian Oil and Gas Corporation announced an auction to sell 20,000 tons of Georgian Light and Georgian Heavy oil extracted in Georgia. The corporation told Trend that those wishing to participate in the company’s auction must transfer the equivalent of $100,000 in the Georgian currency to the corporation’s bank account, Trend reports.
The company which will offer the lowest discount per barrel of oil will be the winner. Bidding on $ 9 discount proposed by the corporation will be conducted.
Oil will be supplied in several stages on the basis of the agreement between the corporation and the winner of the auction, and at pre-determined time.
